The Daily Update: 23 May

July 17, 2023

The latest updates from the JSE and NYSE over the past 24 hours.


South Africa

Coronation Fund Managers Limited- Financial Results for the Interim Period ended 31 March 2023

  • Revenue decreased by 6% to R1,815 million
  • Basic and headline earnings per share decreased by 97% to 6.2 cents per share, primarily due to the impact of a tax ruling by the SCA.
  • Due to the impact of the tax ruling, Coronation will not be paying an interim dividend, in accordance with their Dividend Policy, which depends on after-tax cash profits.

Bytes Technology Group plc- Results for the year ended 28 February 2023 and dividend declaration

  • Revenue increased by 26.5% to GBP 184.4 million.
  • Gross margin percentage decreased to 70.3% from 73.7%.
  • Gross profit increased by 20.7% to GBP129.6 million.
  • Operating profit increased by 20.6% to GBP 50.9 million.
  • EPS increased by 23.0% to 16.88 pence.
  • Final dividend declared at 5.1 pence per share, representing a 21.4% increase from the previous year.
  • Special dividend declared at 7.5 pence per share, a 21.0% increase from the previous year.

Alexander Forbes Group Holdings Limited- Trading statement for the year ended 31 March 2023

  • Basic EPS is expected to be between 55.8 cents and 57.8 cents, representing an increase of between 42% and 47%.


The U.S.

Zoom Earnings

  • EPS of $1.16 beating expectations of $0.99.
  • Total Revenue of $1.1B beating expectations of $1.08B.


  • Waymo and Uber have announced a new multi-year partnership that will see some of Waymos autonomous vehicle technology join Ubers platform.


  • Deere has filed to raise $36 Billion by selling debt through its subsidiary John Deere Financial.

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